120 Plus Cryptocurrency Hedge Funds

120 Plus Cryptocurrency Hedge Funds

The volcanic growth of cryptocurrency values has attracted some of the investment world’s prominent members, the hedge fund managers. Over the last semester, the number of crypto-focused hedge funds has erupted, moving from about 70 in August to more than 120 at the end of October.

In the past year only, as per CNBCs stats, more than 90 cryptocurrency funds have originated making the net total 124. These funds have more than $2.3 bln under management, with a third of the aggregate using venture-capital style investment techniques.

The most striking inclusion among these is the $500 mln fund initiated by Galaxy Investment Partners pioneer Michael Novogratz. The popular investor has openly expressed his view that huge amounts of money can be earned with digital currencies, even as the market progresses.

A Lot Follows

This eruption in crypto hedge funds may be just at the initial steps, with the unexpected rise in ICOs. In spite of the recent abandonment of some markets like China, and the restrictions of laws in the US, ICOs have advanced their sizable move forward.

Many former ICOs have now either ignored or lost some of their early positive news, with Tezos being first in the group. However, the possibility for significant profits has kept many investors digging for the next digital gold mine.